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 death benefits
- Special considerations for life insurance when it comes to parents and other dependents
- Date posted: August 12th, 2010 2:02 PM
- Children and spouses are just one group of dependents that may require cash proceeds from a life insurance policy. Age and direct ties to your family are a couple things to think about if the worst should happen to you.
Distant relatives, ex-in-laws, foster children, and child support for any illegitimate children may also require additional streams of cash, notes Edward Graves, author of “McGill’s Life Insurance.”
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- Category: Articles Library, Life Insurance, Videos
- Tags: advice, beneficiaries, cash proceeds, children, coverage, death benefits, dependents, elderly, life insurance, long term care, McGill's Life Insurance, permanent life insurance, riders
- Things to think about when planning for cash to meet daily needs
- Date posted: August 10th, 2010 2:02 PM
- If you or another income-earning family member died today, what would your family’s financial situation be like? It’s not a pleasant subject to think about, but the knowledge that there are funds to help cover your family’s daily needs and costs provide a small comfort.
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- Category: Articles Library, Life Insurance, Videos
- Tags: cash value, daily living expenses, death benefits, emergency funds, families, financial support, income, inflation, life insurance, lifestyle, McGill's Life Insurance, needs
- How much is enough when covering death-related expenses?
- Date posted: August 9th, 2010 4:04 PM
- The cash your family receives from a policy’s death benefit can provide the resources needed to lessen the financial weight that comes from death-related expenses.
The amount needed for these costs depends on your individual situation. Large hospital, medical, home care, or rehabilitative bills can drain a family’s resource before death even occurs. The cash from life insurance proceeds can help replace these losses so death-related expenses don’t plunge your family into a financial sinkhole, according to McGill’s Life Insurance author Edward E. Graves.
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- Category: Life Insurance, Tips, Videos
- Tags: cost, death benefits, funeral expenses, life insurance, McGill's Life Insurance, National Funeral Directors Association
- Term life can help personal finance, but only if used correctly
- Date posted: August 3rd, 2010 11:11 AM
- When planning for retirement, life insurance is a useful tool, but not as a means of saving, according to Walter Updegrave of Money Magazine. Instead, life insurance policies should be used to provide for spouses and dependent children in the event of a tragedy.
Updegrave recommends term life insurance, which carries an annual premium that must be paid to the insurance company, in exchange for their guarantee that a death benefit will be paid to a policyholder's surviving loved ones.Full Story »
- Category: Life Insurance, Tips
- Tags: cash value, death benefits, expert advice, finances, financial planning, life insurance, Money Magazine, retirement planning, Term life insurance
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